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Shares of Chinese toymaker Pop Mart fell 9% Thursday, notching the stock's worst day since April and extending its declines since a late-August peak.

The company behind the popular Labubu dolls , a series of collectible elf-like monster dolls that come in blind-box packaging , reported on Tuesday that third-quarter revenue had more than tripled year over year as sales in the U.S. swelled between 1,265% and 1,270%.

And yet concerns are growing the craze could be fading.

Data from Chinese resale platform Qiandao shows that some Labubus are being sold close to or below official Pop Mart retail prices, a stark shift after a period of sky-high demand and prices. The Labubu character Luck, released

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